It is widely accepted that education opens many doorways in life. However, in a society that prides itself on it’s education system there seems to be a general lack of resource and knowledge surrounding financial matters.
In fact, a recent study from the Office for National Statistics has found that in UK the debt to income ratio for young people (18-24 year olds) was much higher* than that of all other age groups, with around 32% of young people reported having debt in 2012 to 2014. 16% of these felt that their debt was a heavy burden.
Thankfully on the whole this study shows a general improvement in the financial health of Britain’s young. Contributing to this shift are MoneyTalk’s guests this week Di & Debbie Domican, founders of the Dom Education Group (also known as Domeg).
Domeg begun its life in 2014 as an financial advisory service for young sports-people, and has since built on these beginnings and developed courses to suit everyone from primary school aged children through to those entering retirement.
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*UK average being 0.15, whereas it is 0.40 for 18-24 year olds